I see people complain that tax cuts only help the rich, forgetting that this means the middle/working class keeps more money and get products for less

@Elessar Give her another hour, she'll be an astronaut, gourmet chef, and MP too.

@OggggO Those as a hobby

@OggggO It has been an hour and I am not those things. Perhaps if I were, I'd post about them instead.

@PicturesOfABetterTomorrow You're the one going "you're bs!" "run and hide!" doubting my achievements. I've yet to do it to you. You have no interest in a genuine conversation, you just want to feel better than others. I've yet to call what you say "bs"

@SpiritualMan PicturesofaBetterTomorrow has no interest inbeing honest in his responses, unfortunately.

@lynncelestial Ah, I touched the troll post. I forgot how many rich company owners waste time on sw. You two have fun.

@sunsporter1649 Demand drives economic growth. When the average person has more to spend, the economy booms.

@pattycakechamp If you believe this post is a troll, by all means don't waste your time replying.

@JP1119 I never said I did know what's best for everyone. Hence I said I hope you do well with whatever you do. And no, I don't know how to run the economy, and I don't actually think anyone does, I think socialism should stop trying to force the market to work in a certain way and allow people to use their resources as they see fit, hence the less taxes post. I don't know how to use your money, neither does anyone else, so I don't think that me nor anyone else should have your money. Unless you voluntarily give me your money for a service I provide, I don't want anything to do with your money.

That should be pretty clear. People should control their own money.

@lynncelestial The above quotes that started your post sounded like you thought you knew what was best for everyone. Fwiw, I agree that people should control their own money, except to the extent that maybe they owe some of their paycheck back to the system that made it possible for them to earn that paycheck in the first place.

@JP1119 No I dont no one does, small government for the win, see we find points where we agree once you make an effort to understand my side. this is what I'm saying about the internet, people take the most worst assumption about what the other person means, and argue against that assumption. Literally 99% of responses I've had are negative assumptions and then nasty belittling of my knowledge to try to fit into that assumption and make themselves feel superior. I'm absolutely sick of it. Even if I go out of my way to be polite. Or if I state something absolutely objectively factual. Someone will pop up calling me an idiot. I can have an absolutely normal conversation in person and I end up mixing with very successful people. Yet as soon as people get behind a pc, they turn into something else. Even with people I know in person, I don't even use Facebook much anymore, even when people have their real identity linked to their account, they act in very similar dismissive, mocking tones.

@QuixoticSoul Take an individual with total income of £120,000. He earns £20,000 over £100,000, and therefore loses £10,000 of his personal allowance (£1 of personal allowance for every £2 of income over £100,000), leaving £2,570 of personal allowance.

This £10,000 of extra taxable income (at 40%) means that this person pays £4,000 more Income Tax on top of the £8,000 due on the £20,000 income in excess of the £100,000 threshold. Therefore, the £12,000 Income Tax as a result of the extra £20,000 income gives an effective tax rate of 60%.

@lynncelestial That's not how math works. At all.
https://www.tax.service.gov.uk/estimate-paye-take-home-pay/
35,428.4/120000 = 29.52%

@lynncelestial This is a hilarious level of misunderstanding of how marginal taxes work. You clearly don’t get how the personal allowance (called the standard deduction in the states) works, among other general confusions.

Losing the personal allowance means that the taxpayer pays taxes on all of their income, instead of getting the first 12k tax-free. It nudges their effective tax rate up some, but will never move it past their top bracket (40% in this case).

@uncleshawn Oh I've noticed. It does not matter if I point out I've built up several companies from pennies, and that I've successfully invested. They have some way to dismiss it whilst having done nothing themselves.

@uncleshawn postmodernists 🤣

Ok Jordan Memerson

@graphite Payroll taxes are federal.

@graphite

@graphite Which party has opposed fuel efficiency standards and mass transit again? Because it sure wasn't the Democrats.

@PicturesOfABetterTomorrow I haven't used Sowell's books. When it comes to money, I cite the experience I have gained from building up several successful companies, starting from an income of less than minimum wage.

@lynncelestial And someone needs to teach you the basics that anecdotes are not data.

@PicturesOfABetterTomorrow I cannot say that my databases recording my financial growth is just an anecdote. I'm not sure how I'd declare an anecdote in my tax declaration.

@OggggO If you really think you know better, go and start your own business venture or sod off back to your shitty job.

@lynncelestial You really don't like getting proven a liar, huh?

@OggggO I can't say I'm a fan of anons pretending to prove I'm a "liar" haha. I mean, if trying to one up someone on the internet makes you feel better go for it.

Perhaps we need a president who doesn’t propse trillion dollar infrastructure spending that does very little for infrastructure. @Stopmakingsense

@SpiritualMan Lots of pork projects, yes

@questionWeaver Thank you. I have built up several companies from nothing and have successfully traded building up hundreds of thousands in compound interest, yet to many on here I simply just don't know anything, and they, from their achievements of nothing, think they know it all.

@LordShadowfire Oh, Bezos doesn’t pay nothing in personal taxes. He pays regular taxes on his 85k a year, and cap gains on whatever stock he sells.

It’s Amazon itself that pays little in taxes - but that’s not strange, they have always heavily reinvested their revenue into growth, so make little profit. That’s not even shady.